The animated sequel opened to $50 million domestically and picked up in an additional $24.8 million from 26 international territories. However, going into the weekend some analysts had predicted that the film would open to north of $60 million. The company’s stock was down more than $3 on Monday morning, trading at $23.94.
While DreamWorks Animation has made steps to branch out into different areas of the media business, buying YouTube powerhouse AwesomenessTV and signing deals with Netflix for instance, the frosty reception from investors demonstrates its fortunes remain inexorably tied to the theatrical performance of a handful of films.
“The stock is definitely going to being volatile to opening weekends given that they only have three movies per year and they’re »
- Brent Lang
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